Beijing, Washington ink deals worth over 250 billion USD

ANI | Updated: Nov 10, 2017 16:31 IST

Beijing [China], Nov.10 (ANI): China and the United States have inked deals worth more than 250 billion U.S. dollars during President Donald Trump's maiden visit to Beijing.

The deals range from Boeing aircraft, Ford automobiles, U.S. soybeans and joint development of liquefied natural gas in Alaska, reported China's state-run news agency Xinhua.

The deals were signed at a ceremony attended by Trump and his Chinese counterpart Xi Jinping at the Great Hall of the People.

Being the world's biggest developing economy and developed economy, China and the United States are highly complementary rather than competitive, President Xi said.

"We will continue to encourage Chinese companies to invest in the United States. We also welcome U.S. companies and financial institutions to participate in the 'Belt and Road Initiative'." President Xi added.

According to the reports, after the signing ceremony, China's commerce minister Zhong Shan praised the deals as "truly a miracle, not just in the history of US-China relations, but in the history of the whole world".

China is the United States' largest trading partner while the U.S. is China's second largest.

China holds a surplus in goods trade with the United States while the United States maintains service trade surplus with China, the reports said. (ANI)